Message-ID: <03e601c04f97$3a8c40a0$8bc395cf@pavilion>
From: "John Barrett" <2thman@olympus.net>
To: <sullitb@up.net>,
	"Lancair Mail List" <lancair.list@olsusa.com>
Cc: "Steve Ramsey" <SRXTREME@aol.com>,
	"Marvin May" <mmm@flashcom.net>,
	"Fred Moreno" <Fmoreno@direcpc.com>,
	"Doug Pohl" <dpohl@cdh.net>,
	"Bruce Sanchez" <BSanchez13@aol.com>
Subject: PSRU status
Date: Wed, 15 Nov 2000 22:33:29 -0800
Reply-To: lancair.list@olsusa.com
Mime-Version: 1.0

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Hello Tom,

You're the first one to ask why I've been silent on updates to the
EngineAir/PSRU saga on my website.

As you noted, the project seemed to be at the point of completion, but
unfortunately, the EngineAir company ran out of financial resources before
they could cover cost increases in PSRU production.  This left the group of
customers with an empty pit in our stomachs.

At Oshkosh there were some negotiations between EngineAir owners and
interested parties over refinancing the continuation of EngineAir, but none
of these panned out.  At about the same time a group of about 3 or 4
customers of EngineAir began to talk with the owners of EngineAir about how
the existing customers could help out through a purchase of the EngineAir
assets.

As a result of these negotiations, a new company was formed; EngineAir Power
Systems, LLC (EPS) that now owns rights to the EngineAir V8.  Most of the
legal and contractual hurdles have now been overcome and the company is
going to work.

The business plan is to complete approximately 20 power plant packages for
existing customers (now in various stages of completion) by October, 2001.
Although there are still many unknowns, we expect to be marketing to new
customers in the spring of 2001.

When all is said and done, the EngineAir Liquid Cooled V8 is a very nearly
perfect complement to the Lancair IV airframe.  It was just too good to let
the effort fail.

The current website will most likely not be updated, but you should expect
to see information within the next three months on a website generated for
EPS.

Of interest is that the first production EngineAir V8 is flying on Tom
Zedaker's beautiful L IVP.  Tom and Lorraine won top honors at the
Copperstate Flyin and have been causing a lot of heads to turn wherever they
fly their masterpiece.

Regards,
John Barrett
CEO Barrett/Garrett Enterprises, Inc
Carbinge   " The World Hinges on Us"
http://www.olympus.net/personal/2thman/carbinge1.htm

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Please send your photos and drawings to marvkaye@olsusa.com.
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